LifeSteps Financial Inc. Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

LifeSteps Financial Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,697 shares of the company’s stock after selling 85 shares during the period. LifeSteps Financial Inc.’s holdings in PepsiCo were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEP. State Street Corp boosted its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB lifted its stake in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. Van ECK Associates Corp grew its stake in shares of PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after acquiring an additional 1,328,672 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in PepsiCo by 62.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock valued at $458,324,000 after purchasing an additional 1,157,835 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 3.0 %

PepsiCo stock opened at $153.50 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm’s 50 day moving average price is $148.75 and its 200-day moving average price is $162.39. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market cap of $210.53 billion, a P/E ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEP. Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. HSBC lowered their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $171.47.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.